Credit Reports » Who Uses Your Credit Report

Who Uses Your Credit Report

Who’s Looking at Your Credit Reports?

You might have been surprised when your auto insurance rates went up. You did not get into an accident nor did you get a ticket. You can’t seem to figure it out, so you call your insurance man and find out that they checked your credit report and found that you were a credit risk. This may cause your rates to skyrocket and even worse if you look to change providers the new company may not accept you because of your credit score.

Do you know who is looking at your Credit Report? You may be surprised! Your credit report is no longer just checked when you are applying for a credit card or a home mortgage. Did you know that insurance companies and employers are now checking credit reports? Did you know that there are a myriad of financial companies constantly checking your reports to see if they might want to do business with you?

Some of this peeping can be stopped by Opting Out with the credit bureaus. Simply call 1-888-OPT-OUT (1-888-567-8688) and with one call you can stop the credit bureaus from selling your credit profile to the many businesses that are willing to pay for it. This is a great step to reduce your risk of identity theft.

Applying for a new job or looking to be promoted in your current job? You might want to check your credit report before your future boss does. Employers are starting to check Credit Reports to look for responsibility and promptness of bill paying. Many employers feel that a person who is responsible paying their bills and loans will also be a responsible employee. This may be especially true if you’re applying in the financial sector, a business with high employee theft rates, or may need a security clearance for the job.

What does your credit report say about you? Before you start guessing about it, order your credit report and scores. Now that you know the facts you can really start making a change. If you are showing late payments, non-payments, public records, or general negative listings you will want to work to have them removed. Start your credit clean up and optimization today, it’s a smart part of your overall financial planning.